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E.l.f. Beauty Sales Growth Accelerates, Outpacing Market, Canaccord Data Shows
Summary
Shares of the cosmetics company rose after a Canaccord Genuity sales tracker revealed an 11.6% year-over-year increase in dollar sales for a recent two-week period, driven by strong unit growth and exceptional performance from its Naturium skin care brand.
E.l.f. Beauty, Inc. (NYSE:ELF) shares rose after new data from a Canaccord Genuity sales tracker showed the company's sales growth accelerated in September, significantly outperforming the broader beauty market.
Strong Sales Momentum
According to the report, which covers the two-week period ending September 20, e.l.f. Beauty's dollar sales jumped 11.6% year-over-year. This performance marks an acceleration from the 9.0% growth recorded in the prior two-week period, signaling strengthening consumer demand.
The growth was propelled by a 17.0% increase in unit volume, a key indicator of market share gains. This volume growth was achieved even as the company's average unit retail prices declined by 5.5% during the period.
The company’s Naturium skin care brand was a standout performer, with sales surging 74.3% year-over-year, according to the Canaccord data. This was driven by a 71.6% increase in units sold.
AdBroader Category Trends
The Canaccord tracker highlighted sun care as the strongest overall beauty category, with 26.8% growth. Other strong segments included fragrance, which grew 12.3%, and skin care, which saw a 9.1% increase.
The report also noted positive trends for other consumer goods companies. Edgewell Personal Care (NYSE:EPC) saw sales rise 3.0%, boosted by strong performance in its shave and sun care brands. Meanwhile, Perrigo (NYSE:PRGO) experienced a 9.3% increase in its private label infant formula sales, outpacing the overall category's 2.8% growth.
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